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Capital gain computation - addition u/s 50C - DVO has done the valuation in a very arbitrary manner. He has preferred rates of nearby plots despite noting himself an instance of lower rate in the same building. When this was pointed out to Ld. CIT(A) by the assessee, CIT(A) rejected the same by holding valuation adopted by assessee’s valuer also has no value - The view is also supported by the newspaper articles referred by the valuer that the actual prevailing transaction rate in the area were much lower than the circle rate - AT
Capital gain computation - addition u/s 50C - DVO has done the valuation in a very arbitrary manner. He has preferred rates of nearby plots despite noting himself an instance of lower rate in the same building. When this was pointed out to Ld. CIT(A) by the assessee, CIT(A) rejected the same by holding valuation adopted by assessee’s valuer also has no value - The view is also supported by the newspaper articles referred by the valuer that the actual prevailing transaction rate in the area were much lower than the circle rate - AT
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